Allianz joins growing Landmark roster
The insurance giant has signed a 10-year lease on 10,800 sq ft at Barings Real Estate’s Manchester block, joining JLL, Grant Thornton and Hana at the 180,000 sq ft Oxford Street office.
Allianz Insurance is to relocate from the third floor of One Piccadilly, and has appointed fit-out specialist TSK to design its new workspace in advance of taking occupation later this year.
The firm is the fourth global occupier that Barings has secured at Landmark, close to St Peter’s Square, in recent months.
In January, the investor signed a management agreement with CBRE’s flexible workspace arm Hana for 32,000 sq ft, while global professional services firm Grant Thornton agreed a 15-year lease to relocate its Manchester team into the 13,200 sq ft eleventh floor of Landmark.
The Grant Thornton letting achieved a headline rent of £38.50 / sq ft, a new record for Manchester.
Both Hana and Grant Thornton are to move into Landmark later this year.
Ian Mayhew, managing director at Barings, said: “To have concluded our fourth deal and be welcoming another global occupier at Landmark in quick succession is a fantastic result and shows that with the right offering, transactions can be concluded even with the challenges presented by the pandemic.
“It also demonstrates that the office still has an integral role to play in helping businesses to thrive. We are in a strong position now with four innovative and high-profile firms in place and our flex offering being delivered by Hana adds an exciting dynamic to the building.”
Leasing agents on Landmark are CBRE and Colliers International. Allianz was represented by JLL.
Designed by Squire & Partners and constructed by Bowmer & Kirkland, the 14-storey Landmark completed in 2020.